Friday 16 September 2022

An ugly week

US equity indexes closed broadly lower, SPX -27pts (0.7%) at 3873. Nasdaq comp' -0.9%. Dow -0.4%. The Transports settled -5.1%. R2K -1.5%.

SPX - daily

VIX - daily

Summary

US equities opened broadly lower... not helped by FedEx pulling guidance. The SPX printed a new cycle low of 3837. From there... considerable chop, with a mini ramp into the weekend.

Volatility picked up a little more, the VIX printing 28.45, and settling +0.1% to 26.30.
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Golden sunshine into quadruple witching


Summer 2022 has almost died


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